Economic Indicators
Manufacturing Activity Rebounds in August – Philly Fed Index
2022.08.18 16:13
By Scott Kanowsy
Investing.com — Manufacturing activity in the mid-Atlantic region of the United States unexpectedly accelerated in August, reversing two months of contraction, a potential sign of brightening in a recently gloomy economic outlook.
The Philadelphia Federal Reserve’s monthly manufacturing index, widely viewed by economists as a trustworthy signal of business conditions across the nation, came in at 6.2 – above analysts’ forecasts of -5.0.
The level, which at above zero indicates improving sentiment, also follows negative readings of -3.3 and -12.3 in June and July, respectively.
